Inquesta’s Post

What's better: a personal or corporate guarantee? Each type serves a different purpose and involves different parties, risks, and legal implications... We've put together an article discussing the differences and advantages. Read here: https://lnkd.in/g6jw7GmW #1031exchange #personalguarantee #corporateguarantee #realestatelease #investmentproperty #utahrealestate #realestateinvesting

Looking to shield yourself from personal guarantee liability? 🛡️ 🛡️ Here's a strategic approach: Monitor Financial Position: Keep a close eye on your company's financial health. Planning ahead can help mitigate liability risks. Apply for Credit Early: Don't wait until the last minute to seek credit facilities. Apply when your company doesn't urgently need them. This grants leverage for negotiation—our first tip. Negotiate Terms: When applying for credit in advance, negotiate terms to limit your personal liability. This proactive approach puts you in a stronger position. Seek Legal Advice: If you're uncertain about the personal guarantee's implications, don't hesitate to seek legal counsel. Understanding potential consequences is crucial. Explore Alternate Funding: Consider alternative funding sources that don't require personal guarantees. There are still viable options available. While hindsight is 20/20, proactive planning is always preferable. If you're already tied to a personal guarantee beyond your means, our experts at Middlebrooks can guide you through your options and provide assistance. Don't navigate this alone! #PersonalGuaranteeProtection #FinancialPlanning #LegalAdvice

New law as of January 2024. Must complete by January 2025

Reviewing my case chart this morning and something sticks out. Almost all of the business disputes I’m handling are between relatives or very close friends. Caveat this that I’m not a full-time litigator and really only take select business disputes. But it’s a more frequent occurrence than many realize. You trust someone. Partner up. Then things go way south. The person you thought you knew changes. Maybe you try to show them some grace. But they do it again. It’s painful. If you’re thinking of going into business with a relative or close friend, here are some tips. 1️⃣ Get real about each others’ personal finances. How do they spend money? Do they live above their means? Are they entitled? You’re allowed to ask probing questions. You’re joining your financial life to this person. If they get defensive, it might be a red flag. 2️⃣ Spend the money to have a lawyer draft a clear Operating Agreement. Outline *exactly* how profits are to be distributed, what happens in a dispute, and under what circumstances someone is kicked out. 3️⃣ Don’t give one partner full control of the business. You might divide duties, but transparency is key. Trust but verify. Many of these disputes start because one partner blindly trusts the other. All of these measures may feel invasive. But they will actually protect the relationship in the long-run.

A financial adviser can offer expert support to help your clients plan for the future and make the most of their damages. #claims #protectingyourfamily #trustedadvice

A financial adviser can offer expert support to help your clients plan for the future and make the most of their damages.

A financial adviser can offer expert support to help your clients plan for the future and make the most of their damages. #claims #protectingyourfamily #trustedadvice

Exciting News! Just put some insights together for a comprehensive guide on dealing with Director Penalty Notices (DPN) from the ATO.   Uncover the ATO's intensified actions, types of DPNs, the implications directors face, possible defences, and the smart move of seeking professional advice. Check out my latest article now. https://lnkd.in/gMEZj4qw

Financial spats bringing down your business? Check out our new article for some tips on managing those disputes.

A financial adviser can offer expert support to help your clients plan for the future and make the most of their damages. #claims #protectingyourfamily #trustedadvice